UK Economy suffers Triple Blow

UpTheBeehole · Post by **UpTheBeehole** » Fri Jul 07, 2017 2:48 pm

Trade deficit widened by £2bn in 3 months, now stands at £11.86bn

Manufacturing output down by 0.2%, as opposed to the forecast of a 0.5% rise. This was mainly due to the 4.4% fall in car production, the big brexiteer favourite.

Construction sector down 1.2%, as opposed to forecast of a 0.7% rise.

All painting a rather bleak picture for the UK economy. Well done Brexit.

http://www.telegraph.co.uk/business/201 ... ndustrial/

NottsClaret · Post by **NottsClaret** » Fri Jul 07, 2017 2:51 pm

And Turkey aren't joining the EU anyway. There's not even anything for the casual racists now.

Mind you, I'm looking forward to the World Trade Organisation elections, now we've taken back control. When are they?

Silkyskills1 · Post by **Silkyskills1** » Fri Jul 07, 2017 2:51 pm

At first glance I thought we might be looking at a tripe shortage and immediately thought of my brother who is partial to a little tripe and elder. Panic over!

Guich · Post by **Guich** » Fri Jul 07, 2017 3:03 pm

We're all doomed, doomed I tell you! No point looking forward to the new season now. Thanks a lot.

Damo · Post by **Damo** » Fri Jul 07, 2017 3:42 pm

Last week my local fuel station was selling diesel for 112.9 pence per litre.
This week it has shot up to 113.9 pence per litre.

Thanks a lot Brexit

moaninclaret · Post by **moaninclaret** » Fri Jul 07, 2017 3:45 pm

Hope the price of a season ticket for 2018/19 season doznt go through the roof, i get me old age pension then, if theres anything left by then. The country is F....d

Foshiznik · Post by **Foshiznik** » Fri Jul 07, 2017 3:45 pm

It took me 45 minutes to get into work this morning when it usually takes just under 30 minutes.

Thanks a lot Brexit.

moaninclaret · Post by **moaninclaret** » Fri Jul 07, 2017 3:48 pm

I might move to Turkey and get a job in a hotel, be better than living here in more poverty lol.

Holmeclaret · Post by **Holmeclaret** » Fri Jul 07, 2017 5:08 pm

Leaned too far out if my bedroom window this morning and fell through my conservatory roof, through my grandmas oak table onto a turd my dog had kindly left the night before.

Thanks a lot Brexit.

evensteadiereddie · Post by **evensteadiereddie** » Fri Jul 07, 2017 5:13 pm

The country's already ****** and our bumbling moronic team have barely even started negotiations...........thanks a lot, Brexit.

RingoMcCartney · Post by **RingoMcCartney** » Fri Jul 07, 2017 5:38 pm

The sun was cracking the flags Wednesday and yesterday.

It's cloudy now and the forecast is showers tomorrow.

Bloody brexit.

RingoMcCartney · Post by **RingoMcCartney** » Fri Jul 07, 2017 5:40 pm

Blackburn Rovers got relegated to the 3rd tier of English football in May.

Wish I'd voted Remain now. Bugger!

CnBtruntru · Post by **CnBtruntru** » Fri Jul 07, 2017 5:41 pm

moaninclaret wrote:Hope the price of a season ticket for 2018/19 season doznt go through the roof, i get me old age pension then, if theres anything left by then. The country is F....d

Moaning again, you want to change your name

kentonclaret · Post by **kentonclaret** » Fri Jul 07, 2017 6:08 pm

At least we have a chance to increase trade with Japan as a result of the recently signed Trade Agreement.

Sorry, that new trade deal was with the EU.

Wasn't that supposed to be our new strategy?

bfcjg · Post by **bfcjg** » Fri Jul 07, 2017 6:10 pm

Got a splinter yesterday that went septic overnight.
Thanks a lot Brexit

Damo · Post by **Damo** » Fri Jul 07, 2017 6:25 pm

I have just been out in the garden and literally been eaten alive by midges.
I don't remember them being so bold before all the poorly educated oik's voted leave in the referendum

Stayingup · Post by **Stayingup** » Fri Jul 07, 2017 6:26 pm

UpTheBeehole wrote:Trade deficit widened by £2bn in 3 months, now stands at £11.86bn

Manufacturing output down by 0.2%, as opposed to the forecast of a 0.5% rise. This was mainly due to the 4.4% fall in car production, the big brexiteer favourite.

Construction sector down 1.2%, as opposed to forecast of a 0.7% rise.

All painting a rather bleak picture for the UK economy. Well done Brexit.

http://www.telegraph.co.uk/business/201 ... ndustrial/

Ya ya. What a load of b0llocks. Bow down to the Germans if you must but the majority wont. And make no mistake stay in we will be forced to join the Euro - designed for Germany.

Stayingup · Post by **Stayingup** » Fri Jul 07, 2017 6:29 pm

evensteadiereddie wrote:The country's already ****** and our bumbling moronic team have barely even started negotiations...........thanks a lot, Brexit.

By god some plonkers on here. Are you like that other Claret Campbell hate Britain and have no faith in us. You're a set of mard areses.

Damo · Post by **Damo** » Fri Jul 07, 2017 6:32 pm

kentonclaret wrote:At least we have a chance to increase trade with Japan as a result of the recently signed Trade Agreement.

Sorry, that new trade deal was with the EU.

Wasn't that supposed to be our new strategy?

We are now free to make our own deal with Japan.

Like Switzerland did in 2009

evensteadiereddie · Post by **evensteadiereddie** » Fri Jul 07, 2017 6:33 pm

It's because I don't hate Britain that I'm so alarmed by our dismal performances now and even more dismal future, you tool.
If "us" is our limp-wristed negotiating team, you're right, I have no faith in you.

hampsteadclaret · Post by **hampsteadclaret** » Fri Jul 07, 2017 6:48 pm

OP...the trade figures (deficits) have been sh1te for years, irrespective of the exchange rate.

Manufacturing output has been falling for about 8 decades now ( where have you been?) and the immovable force called GLOBALISATION isn't disappearing anytime soon...car production down - brilliant - too many on the roads already and all that stinking pollution.

Construction down..Grenfell and all those Krap cladding projects will soon sort that out.
House builders are sat on massive land banks all over the uk but the pace of house building will be DICTATED BY THEM in order to keep prices up..therefore new supply of houses will be strictly 'regulated' (ha) by those who stand to gain the most....some government intervention needed on this one...oh forgot they're ******* spineless.

The results of Brexit (if it ever happens) will be obvious ten to fifteen years after it happens...how many times does that need to be stated on here..?..regular monthly updates based on random economic stats from the Telegraph, are not worth reading.

JohnMcGreal · Post by **JohnMcGreal** » Fri Jul 07, 2017 6:57 pm

hampsteadclaret wrote:The results of Brexit (if it ever happens) will be obvious ten to fifteen years after it happens...how many times does that need to be stated on here..?..regular monthly updates based on random economic stats from the Telegraph, are not worth reading.

Wilful ignorance.

Sidney1st · Post by **Sidney1st** » Fri Jul 07, 2017 7:06 pm

JohnMcGreal wrote:Wilful ignorance.

Short term effects will be noticed immediately, but it will take a while for things to settle down of course.

RingoMcCartney · Post by **RingoMcCartney** » Fri Jul 07, 2017 7:10 pm

kentonclaret wrote:At least we have a chance to increase trade with Japan as a result of the recently signed Trade Agreement.

Sorry, that new trade deal was with the EU.

Wasn't that supposed to be our new strategy?

A free trade agreement WITHOUT free movement of people!!!!!!!!!?????

But that's not possible !!!!!!

Is It!!!! Oops

Rammy1968 · Post by **Rammy1968** » Fri Jul 07, 2017 7:15 pm

Boring boring boring get over the defeat lads and move on it's happening for better or for worse

CrosspoolClarets · Post by **CrosspoolClarets** » Fri Jul 07, 2017 7:18 pm

Why on earth would we want to be a sovereign nation again, with elected decision makers?

After all, it's hardly done Australia and Canada much good.

Oops, looks like they have a higher GDP per capita than we do. Maybe, just maybe, they are doing something right. Like independently making the decisions that are best for their citizens. If we take an economic hit but end up in 10 years equivalent to them in GDP per capita, that would suit me just fine. Let's leave the hand wringing to the politicians and get on with becoming free, and, eventually, more wealthy.

https://www.cia.gov/library/publication ... 4rank.html

Lancasterclaret · Post by **Lancasterclaret** » Fri Jul 07, 2017 7:20 pm

The EU-Japan trade deal took ten years to complete.

Ours won't be as complex, but its going to take a lot of time to sort out those kind of deals. There are a lot of countries to trade with.

Lancasterclaret · Post by **Lancasterclaret** » Fri Jul 07, 2017 7:21 pm

Course, the CBI has stated today that Brexit has started to damage the UK economy.

I just wish people would stop talking Britain down, what with all these facts and figures. It was so much easier when it was all flag waving and stuff on the side of a bus don't you think?

Flatline · Post by **Flatline** » Fri Jul 07, 2017 7:23 pm

The Remoaners have all got Stockholm syndrome.

hampsteadclaret · Post by **hampsteadclaret** » Fri Jul 07, 2017 7:53 pm

22 JM

I know you can't sleep at night without thinking about Brexit and the dreadful consequences..
I am right though.. we will not KNOW for years tho' smart arrces think they have all the answers now..
- you lost THAT vote..will you ever get over it?

- I have been called a few things..not usually 'ignorant' though.

Damo · Post by **Damo** » Fri Jul 07, 2017 8:21 pm

Lancasterclaret wrote:The EU-Japan trade deal took ten years to complete.

Ours won't be as complex, but its going to take a lot of time to sort out those kind of deals. There are a lot of countries to trade with.

How long did it take Switzerland to conclude theirs?

Damo · Post by **Damo** » Fri Jul 07, 2017 8:22 pm

This made me chuckle the other day

: IMG_20170707_202130.jpg (698.89 KiB) Viewed 6727 times

Spijed · Post by **Spijed** » Fri Jul 07, 2017 8:26 pm

Damo wrote:How long did it take Switzerland to conclude theirs?

When you're just flogging a few cuckoo clocks and watches to the Japanese, probably not long!

JohnMcGreal · Post by **JohnMcGreal** » Sat Jul 08, 2017 12:20 am

hampsteadclaret wrote:I have been called a few things..not usually 'ignorant' though.

The 'random economic stats from the Telegraph' that you were dismissing are actually from a report on the health of the UK economy by the ONS.

You said you didn't think this was worth reading.

That is being wilfully ignorant.

hampsteadclaret · Post by **hampsteadclaret** » Sat Jul 08, 2017 7:27 am

JM..34..I know it's from the ONS, I read the linked source in the OP, I always check the source on economic articles, I'm an economist.

What I meant by 'random economic stats' was that the Telegraph will highlight monthly/quarterly stats for it's own narrow political aims as it sees fit - other media may ignore this stuff or downplay it. On other occasions with different economic news, other media will play on their own agendas, with regard to economic news.

None of this stuff matters much. Brexit has barely started and idiots[on the losing side] seem intent on blaming almost any negative economic news on Brexit. We won't know the full effects until a long way down the line, there is no doubt about that.

It is a fact that our trade stats [basically imports vs exports] have been rubbish for years...deficit deficit deficit, especially on the visibles [goods] side rather than invisibles [services] - essentially we like champagne, BMWs, Sony electronics, IKEA furniture, and Stella Artois too much, and the regular deficits on this are little to do with Brexit.

JohnMcGreal · Post by **JohnMcGreal** » Sat Jul 08, 2017 8:59 am

hampsteadclaret wrote:What I meant by 'random economic stats' was that the Telegraph will highlight monthly/quarterly stats for it's own narrow political aims as it sees fit - other media may ignore this stuff or downplay it. On other occasions with different economic news, other media will play on their own agendas, with regard to economic news.

It's worth mentioning at this point that the Telegraph is one of the most pro-Brexit papers in the UK. Their agenda is to try and paint Brexit in a positive light, but facts are facts. The economic outlook for the UK right now is bleak, and is only showing signs of getting worse.

You're right in saying that we'll only know the full effects of Brexit many years after we've actually left. But a lot of bad things can happen between now and then. The warning signs are there already. Ignoring reality for over a decade before finally making a judgement on Brexit is ridiculous. Action can still be taken now to avert an economic catastrophe, but if enough people in powerful positions have the same attitude as you, then we won't avoid it.

Lancasterclaret · Post by **Lancasterclaret** » Sat Jul 08, 2017 9:05 am

When you're just flogging a few cuckoo clocks and watches to the Japanese, probably not long!

Thing is, I don't know what Japan and the Swiss have to trade with each other, but what I do know is that as Switzerland has never been in the EU, they didn't have to start trading relations with the whole world*, starting with an arbitrary day. Our day is 31 Mar 2019.

We won't be ready for that, which is why its batshit mental not to go for a transitional agreement to give us a chance.

*We will be trading on WTO rules, which are accessible online, so you can see the effects.

taio · Post by **taio** » Sat Jul 08, 2017 9:09 am

Lancasterclaret wrote:Thing is, I don't know what Japan and the Swiss have to trade with each other, but what I do know is that as Switzerland has never been in the EU, they didn't have to start trading relations with the whole world*, starting with an arbitrary day. Our day is 31 Mar 2019.

We won't be ready for that, which is why its batshit mental not to go for a transitional agreement to give us a chance.

*We will be trading on WTO rules, which are accessible online, so you can see the effects.

Transitional arrangements are inevitable.

Lancasterclaret · Post by **Lancasterclaret** » Sat Jul 08, 2017 9:11 am

You'd hope to think so!

hampsteadclaret · Post by **hampsteadclaret** » Sat Jul 08, 2017 9:40 am

36..JM.. you say

'action can still be taken now'..

What exactly do you have in mind, bearing in mind we voted out?

taio · Post by **taio** » Sat Jul 08, 2017 9:46 am

'Economic catastrophe'

You seem so confident it will happen so perhaps you can explain your economic projections for the UK

JohnMcGreal · Post by **JohnMcGreal** » Sat Jul 08, 2017 9:47 am

I think the only two things we can hope for are:

A transitional arrangement for a defined period of time.
An 'off-the-shelf' Norway-style arrangement.

JohnMcGreal · Post by **JohnMcGreal** » Sat Jul 08, 2017 9:57 am

taio wrote:'Economic catastrophe'

You seem so confident it will happen so perhaps you can explain your economic projections for the UK

There is a wealth of data out there which shows that its a very real possibility. The ONS figures this week are just the latest example. The economy is slowing right down, there is barely any growth. The next step will be the economy shrinking, and if that happens for long enough, we'll be in a recession.

Businesses are lining up to plea with the government to protect their access to the single market. To come to some sort of arrangement that doesn't damage the economy any more than is necessary.

There are plenty of warning signs there to suggest a bad time for the UK economy. Are there any signs that suggest the opposite will happen? That the economy won't be damaged as a result of Brexit?

Even Dominic Cummings (mastermind of the vote leave campaign) is now saying it might not be a good idea anymore, and that it was stupid to have the referendum.

taio · Post by **taio** » Sat Jul 08, 2017 10:06 am

It's funny that according to some when there were positive signs for the economy post the referendum that it had nothing to do with Brexit as that had yet to take hold, but yet when things turn it's solely down to Brexit. I haven't a clue what the UK economy will look like once we have left the EU, and neither have those who suggest that economic catastrophe is a certainty

Sidney1st · Post by **Sidney1st** » Sat Jul 08, 2017 10:09 am

So what are JohnMcGreals excuses for past recessions when Brexit couldn't be blamed?
We have one during every decade pretty much, so we might as well get it out of the way now.

Imploding Turtle · Post by **Imploding Turtle** » Sat Jul 08, 2017 10:22 am

Sidney1st wrote:So what are JohnMcGreals excuses for past recessions when Brexit couldn't be blamed?
We have one during every decade pretty much, so we might as well get it out of the way now.

"How can WE be causing climate change if the climate changed in the past when we couldn't be blamed?" - same dumb logic, different topic.

taio · Post by **taio** » Sat Jul 08, 2017 10:24 am

Such a strange analogy

Sidney1st · Post by **Sidney1st** » Sat Jul 08, 2017 10:27 am

Imploding Turtle wrote:

"How can WE be causing climate change if the climate changed in the past when we couldn't be blamed?" - same dumb logic, different topic.

Not really.

The UK has a recession during every decade that I can remember.
It's almost inevitable.

I merely asked what excuse was used before Brexit, simple question, not my fault you decided to play stupid.

Damo · Post by **Damo** » Sat Jul 08, 2017 10:36 am

Climate change is racist

Imploding Turtle · Post by **Imploding Turtle** » Sat Jul 08, 2017 10:36 am

Sidney1st wrote:Not really.

The UK has a recession during every decade that I can remember.
It's almost inevitable.

I merely asked what excuse was used before Brexit, simple question, not my fault you decided to play stupid.

The fact that you use the word "excuse" instead of "reason" betrays your bias.

Many forcings can lead to recessions, just like many different forcings can lead to warming. In 2008 it was the repeal of Glass-Steagall 9 years prior in the U.S. that caused the global financial crisis. Or do you doubt the truth of that because there were recessions before Glass-Steagall was repealed?

Here's a list of all the recessions this country has experienced. Notice how it describes "causes" not "excuses"?
https://en.wikipedia.org/wiki/List_of_r ... ed_Kingdom" onclick="window.open(this.href);return false;